It’s time to bundle up and be thankful without straining your budget.

High grocery prices and travel costs may put a damper on this year’s holiday fun, but a full stomach doesn’t mean an empty wallet.

Thanksgiving should be about fun, family and festivities, not financially stressful. Although the prices are hefty, you can still enjoy the best moments of the holiday without wasting anything. exceeds your budget.

So what’s the key to creating special holiday memories with your loved ones without emptying the piggy bank? WalletHub writer and analyst Chip Lupo shared some tips with Fox News Digital.

1. Simplify the menu

Healthy Homemade Thanksgiving Green Bean Casserole Ready to Eat (iStock / iStock)

“Focus on a few favorite dishes rather than preparing a wide variety of menu items, as this can reduce both food waste and costs,” says Lupo. he advised. Instead of pairing your turkey and gravy with sweet potatoes, green bean casserole, mashed potatoes, deviled eggs, and other sides, choose two or three of your family’s favorites and go from there. Shaving off one or two food items can mean cutting down on buying multiple ingredients and easily accumulating your savings.

For example, if you choose to cut back on sweet potato casserole, you can leave candies, pecans, and of course sweet potatoes off your shopping list. Other ingredients like eggs, brown sugar, and butter can be used in other dishes, perhaps in the sauce for your ham or mixed into your dessert ingredients; This means you won’t need to buy them in larger quantities to make multiple meals.

2. Host a banquet

A group of friends gather at the dinner table for Thanksgiving dinner. (iStock / iStock)

“Ask guests to bring only certain dishes, which will reduce the financial burden on the host,” Lupo said. Hosting a Thanksgiving feast with this approach will save you not only money but also time. It can also create opportunities to taste a wider variety of dishes and create a more inclusive experience.

For example, if only a few family and friends at the table enjoy green bean casserole, they can bring the dish that suits their tastes. This way, everyone can have the food they enjoy. If one of your guests cannot eat a particular dish due to dietary needs, ask them to bring a version of that dish so they can eat it at the table with everyone else.

What might this meal look like? To avoid conflicts, ask your guests to bring items that meet certain criteria. A family member can bring a “green vegetable dish.” Another can bring drinks, and the third can bring dessert.

Even though the landlord also has more money left over Black Friday shopping and in addition to giving holiday gifts, they spend more time for themselves, watching football or chatting with their loved ones instead of spending time in the kitchen.

3. Watch your portions

Close-up of a plate with turkey, gravy, mashed potatoes, stuffing, sweet potatoes and cranberry sauce — classic foods during a traditional American Thanksgiving meal on November 28, 2019 in Danville, California. (Smith Collection/Gado/Getty Images / Getty Images)

“Be mindful of portion sizes, especially with turkey, which is the most expensive Thanksgiving item and produces the most leftovers,” Lupo said. “Reducing the amount of food prepared can prevent overspending.”

Although one latest Wells Fargo consumer report Turkey prices are predicted to fall 16% since last year, the report said, indicating that the cost of your bird could reach an average of $1.37 per pound in 2024, with a 16-pound turkey falling to just under $22 before tax. If you’re on a tight budget, this main menu item can eat up nearly half of your planned expenses.

Ham, another Thanksgiving staple, is up 5.2% this year to record highs and now costs $4.56 per pound, the report said.

Other price increases include red potatoes, up 14% since last year, canned green beans, up nearly 9%, sweet potatoes, up 4%, canned cranberries, up 7%, and canned green beans, up nearly 9% since last year. a big increase includes canned pumpkin.

Rescaling this year’s Thanksgiving rollout — by removing pumpkin pie or a dish that isn’t necessarily a family favorite — could help reduce the cost of some of those ingredients.

4. Get creative with leftovers

Boiled Türkiye from Thanksgiving leftovers. (Liz Hafalia/The San Francisco Chronicle via Getty Images)

“If you have leftovers, get creative by turning them into new dishes like turkey soup or casseroles to make them last longer without redoing,” Lupo said.

The options are endless, and the recipe search begins with a simple Google search that may give you ideas for roast turkey, turkey tacos, turkey hash, shepherd’s pie, or slider sandwiches. Using leftovers can be as easy as preparing a turkey or ham sandwich or throwing together multiple leftover dishes for a turkey and gravy-based casserole.

This way, you can use leftovers in ways that won’t be too boring, and you’ll also save money on shopping in the days following your Thanksgiving feast.

Sending leftovers home with your guests is also a convenient and generous option to ensure that no food is wasted.

5. Be careful about decoration

Thanksgiving table with small pumpkins. (Anjelika Gretskaia/REDA&CO/Universal Images Group via Getty Images / Getty Images)

“You can also save money by paying attention to decoration and focusing on the meaning of the holiday rather than the commercial aspects,” Lupo advised.

In other words, avoid turning your kitchen into an Instagrammable Thanksgiving dinner filled with pumpkins, crispy leaves, candles, cornucopias, and carefully chosen floral arrangements to keep the space looking picture-perfect.

Instead, focus on creating a simple, minimalist, and inviting atmosphere for guests that focuses more on friendship and creating memories rather than being overly concerned with aesthetics.

DIY decorations It’s another way to use ingredients you already have at home or buy inexpensive supplies to decorate your Thanksgiving venue.

6. Traveling? Book early

If you’re planning to go somewhere for Thanksgiving, it’s a smart move to book your trip early. (Hannah Beier/Bloomberg via Getty Images / Getty Images)

Lupo’s advice for booking travel? The sooner the better.

“If travel is part of your holiday plans, book your accommodation early and use price trackers for flights to help you find the best deals,” he said.

Since airfares tend to increase right before Thanksgiving arrives, booking your flight in advance might be a smart move. Recent data Google Flights report suggests that ticket prices tend to be lowest for domestic destinations 38 days before departure.

“The historical low price range is 21-52 days before departure,” the report states.

If you’re traveling abroad, average lows come 101 days before departure; The historical low price range generally occurs 50 days or more before departure.

As always, loyalty rewards programs at your chosen airline are good options for cutting costs or finding good deals.

7. Be wary of online shopping

A woman surfs the internet while shopping online. (Nicky Loh/Bloomberg via Getty Images / Getty Images)

Holiday spending doesn’t end with Thanksgiving, of course. In many cases, this is just the beginning of longer-term, overindulgence.

Big holiday sales days like Black Friday and Cyber ​​Monday can add fuel to the fire.

“Be careful when shopping online. Don’t let holiday sales dictate your budget,” Lupo warned, adding: “Make sure you stick to a predetermined budget to avoid overspending.”

The average American is expected to earn about $1,778 from holiday shopping this year, according to consulting firm Deloitte. CBS News report.

That’s an 8% increase from 2023, and with Black Friday deals starting earlier each year, it’s easy to get bogged down in digital sales pitches to increase spending even further.

Last year, Consumer Reports Featured Here are a few tips for spending less: take advantage of loyalty rewards programs, look for special deals and promotions on social media, and create a strict budget and stick to it, to name a few.

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